Using Renko to get support/resistance levels
Updated
This is practicing IchimokuScholar's strategy of using Renko to get SR levels. AFAIK, you may get the following settings for it:
* Traditional, 1% of first day's closing value
* ATR, 0.5 (can set ATR value to whatever you like—I'm still reading on this)
* Red line, weekly SR
* Greens, HH... possible levels for counter trend confirmation or confidence gainer
* Traditional, 1% of first day's closing value
* ATR, 0.5 (can set ATR value to whatever you like—I'm still reading on this)
* Red line, weekly SR
* Greens, HH... possible levels for counter trend confirmation or confidence gainer
Comment
Here's how it looks changing it back to normal candlesComment
Check out how Chikou pinpoints these SR levels tooWith another confirmation via VPVR
Comment
$270 level doesn't seem to be showing up on the preview, at this time at least. Like so:Comment
Closer look at the SR levels around Sept 6th-11th, which seems to not be indicated in the OPComment
Linear chart prints out the Renko chart a lil better than if its in Log. Here's an example with 
BABA 1WComment
Renko seems to be best on Linear vs LogComment
PA surpassed first SR level. Confirming a trend reversal IMOComment
^ * Short term of courseNext target, $229+ will give more confidence
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